Investors focused on the Computer and Technology space have likely heard of Allot Communications (ALLT), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Allot Communications is a member of our Computer and Technology group, which includes 626 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ALLT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALLT's full-year earnings has moved 25% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ALLT has returned about 19.51% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 10.45% on a year-to-date basis. This means that Allot Communications is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ALLT belongs to the Computer - Networking industry, a group that includes 10 individual stocks and currently sits at #177 in the Zacks Industry Rank. Stocks in this group have gained about 21.20% so far this year, so ALLT is slightly underperforming its industry this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track ALLT. The stock will be looking to continue its solid performance.
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